American Realty Capital Trust gets $750 million credit facility

By Toni Weeks

San Luis Obispo, Calif., May 31 - American Realty Capital Trust IV, Inc. announced that it received commitments for up to $750 million of financing from a syndicate of banks, according to an 8-K filing with the Securities and Exchange Commission.

The terms for the credit agreement have not yet been determined, the filing noted.

Regions Bank, NA will be the administrative agent for the facility, with J.P. Morgan Securities, LLC as joint lead arranger.

Additional lenders include JPMorgan Chase Bank, NA, Wells Fargo Bank, NA, RBS Citizens, NA and Bank of America, NA.

"We are pleased to announce that this financing will give us low-cost balance sheet flexibility and optionality as we complete the acquisition stage of ARCT IV," chairman and chief executive officer Nicholas S. Schorsch said in a press release.

The trust is a New York-based non-traded real estate investment trust.

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